When it comes to luxury, forget five-star weekends in New York.

Say sayonara to city breaks – London living is what it’s all about. Because now, with a wealth of new high-end high-rise developments being completed in the capital to rival even the finest hotels, the question we need to ask is – why bother to go on holiday when you can get five star service at home?

Luxury, serviced flats on the rise

With the news that more hotel-standard serviced apartments are set to be completed and finished in London in 2016 than in the last ten years put together, as rated by a new apartments rating system devised for the Telegraph by estate agent Kay and Co, it can only be a matter of time before luxury living on a wider scale in London is achievable. And although the developments have initially been concentrated in the wealthy enclaves of Knightsbridge, Belgravia and Mayfair, this year the spread looks set to widen, taking in slightly more attainable areas of the capital, such as Bayswater, Marylebone and Westminster.
 
Kay and Co’s system, which ranks developments according to the levels of service, amenities and extras available, has deemed 1,083 apartments in London to be five star – with these properties having a combined value of £2.4 billion between them. To make the grade, properties would be expected to offer services like personal chefs, dry-cleaning, dog-walking and house-keeping, all of which come as standard in top hotels.

Hotel-serviced flats may spread beyond capital

And where London leads, the rest of the country follows, with northern powerhouse cities also in the ascendency. Cities like Liverpool or Manchester, which see a large influx of foreign wealth, either through celebrity, sporting associations or industry can all expect to see these high-end developments spring up, while wealthy cities in the south-west of England, such as Bristol and Bath won’t be immune either.

Build to Rent may offer amenities of luxury apartments at more affordable price

For those of us whose wallets are still more mid-range than these luxury developments would allow, the new Build to Rent phenomenon, which is sweeping across the rest of the globe and building up a steady pace in Britain, could be an affordable alternative. Build to Rent, a scheme by which the government is providing loans and equity investments for ‘viable property developments’ designed for renters alone, could also provide a cut above for renters looking for more bang for their buck.
 
Although the scheme is still in its infancy in many places, units in Build to Rent developments, which must all be residential and rental only and are managed by a single institution, offer the mod-cons and comforts that we all enjoy when we go on any kind of holiday, not just a high-end one. Build to Rent developments, which are big news in the US and parts of Europe, typically enjoy gyms, laundry and concierge services within the complex.
 
Dog-walking services may only be a step away. Until then (while it not be a property on Park Lane) there’s always your local park.
 
Zahraa Valu

Zahraa Valu

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Zahraa Valu
By Zahraa Valu